No, it isn't. It attempts and mostly fails to address one ultra-exotic attack, at absolutely enormous expense, principally because the Internet standards community is so path-dependent they can't take a bad cryptosystem designed in the mid-1990s back to the drawing board. You can't just name call your way to getting this protocol adopted; people have been trying to do that for years, and the net result is that North American adoption fell.

The companies you're deriding as unserious about security in general spend drastically more on security than the companies that have adopted it. No part of your argument holds up.